A goal without a plan will remain a dream without a reality. On this week’s show, we talk about the importance of clearly defining your goals and the small differences that define why some people succeed while others procrastinate. Using a variety of practices, like SMART (Specific Measurable Achievable Realistic Timely) and project management Apps and systems, Rich and Marcus share how they’ve defined their 3- to 5-year plans and the lessons learned from past successes (and failures). Tailor to your needs, because in the end, the best plan is the plan that works. Topics covered on this week’s show:
- The Side Hustle Account – How Rich uses multiple accounts to clearly define and track his financial goals for the year and how much money he has available to allocate to each.
- Using Credit Cards to Make You Money – We talk about the importance of finding a credit card that matches your lifestyle. Used responsibly – paid in full each month – some credit card points and rewards might even save or make you money during the year.
- Long-Term Monies – Once you’ve got your financial affairs in order it’s time to start thinking about investments, retirement, and other personal finance needs. We share the steps we plan to take with our (employer-sponsored) 401ks for 2018 and beyond.
- Enjoy the Journey – Lastly, as we discussed on PB78: Her Money Matters with Jen Hemphill, what good is money if you don’t enjoy it? We end with a discussion on how P&B plans to give back after using our 20s to learn, 30s to apply, and 40s to teach and pay it forward.
- LinkedIn Learning – Get a free 30-day trial of online courses galore by clicking here.
- Health IQ – An insurance company that helps health-conscious people get lower rates on life insurance. Go here to support the show and see if you qualify.
References Mentioned in this Show
- Experian – Key Components of Your FICO Credit Score
- TIME Magazine: Humblebragging Makes People Dislike You, According to Science
- ICYMI – PB56: The Truth About Credit with Liz Weston
- We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools
- We joined Renay Richardson of the “Get a Dog Podcast” to discuss money and finances on Money Money Money?
- Check out our guest feature: Finding The Right Balance Between Your Income & Expenses on “Journey to Launch” episode 28.
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Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!